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maximum budget deficit european countries can have a three percent flies in the face of automatic stabilizing mechanisms that all of these countries have where if they go into recession then automatically they have things like on employment insurance and all the people who were paying taxes into the government are now taking tax money out of the government and so of course you're going to have budget deficits go up was this just like a crazy idea in the first place yes i think so i think that the whole notion of an automatic fix level denies the inevitable flexibility the inevitability of new developments that no one who wrote these rules ever for saw and that it. puts
maximum budget deficit european countries can have a three percent flies in the face of automatic stabilizing mechanisms that all of these countries have where if they go into recession then automatically they have things like on employment insurance and all the people who were paying taxes into the government are now taking tax money out of the government and so of course you're going to have budget deficits go up was this just like a crazy idea in the first place yes i think so i think that...
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deficit so on a scale of that you can see how big the problem is not just within the eurozone but also globally but you're quite right i mean it is a huge problem it's something which the cypriots government has failed to come to terms with it we are today that it the government received a warning from the european central bank as far back as two thousand and ten saying that there were there that management economy of interest or not where they were running an increase in state sector employers or wages of six percent when the economy was contracting which was simply unsustainable and so it's proven but so what you're saying that this one of solution in a very small economy could actually have a major impact on the european banking sector as a whole and indeed confidence in the euro zone. that's certainly true and you're making an assumption this is this is a war not far not even sure that's the case what you mean it could happen again that we're probably going to get tax you mean this could be actually implemented and then that should have implemented elsewhere then in other bailout d
deficit so on a scale of that you can see how big the problem is not just within the eurozone but also globally but you're quite right i mean it is a huge problem it's something which the cypriots government has failed to come to terms with it we are today that it the government received a warning from the european central bank as far back as two thousand and ten saying that there were there that management economy of interest or not where they were running an increase in state sector employers...
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maximum budget deficit european countries can have a three percent flies in the face of automatic stabilizing mechanisms that all of these countries have where if they go into recession then automatically they have things like on employment insurance and all the people who were paying taxes into the government are now taking tax money out of the government and so of course you're going to have budget deficits go up was this just like a crazy idea in the first place yes i think so i think that the whole notion of an automatic fix level denies the inevitable flexibility the inevitability of new developments that no one who wrote these rules ever for saw and that it. puts a straight jacket on policy makers that never makes much sense that forces them to violate these rules that violation is interpreted in strange ways by the different players in an economy it's an irrational way to manage a capitalism that is always unstable and unpredictable so i would like to mention something about the cyprus event i think it's enormously important much more that's been understood first of all the the governm
maximum budget deficit european countries can have a three percent flies in the face of automatic stabilizing mechanisms that all of these countries have where if they go into recession then automatically they have things like on employment insurance and all the people who were paying taxes into the government are now taking tax money out of the government and so of course you're going to have budget deficits go up was this just like a crazy idea in the first place yes i think so i think that...
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economy that can create productive jobs that is dependent on the fed printing on borrowing on trade deficits but we can't do this forever and the longer we do it the bigger disaster when it ends but here assad of the last forty six forty six the last fifty years excuse me on our country has been in this kind of budget deficit and we haven't gotten caught in a death spiral so why now what is really getting at this problem. well not yet but it's the enormity of the problem it starts off as a small problem it's like you know you can you can get cancer but you don't die right away you have to wait until the disease grows to the point that it kills you and you know our debt was a cancer but it's taken a long time for the disease to progress and i guess it's not fatal at this very second but you know we're really close to it if you look at the size of the debt you know the government is forecasting that interest payments on the national debt in two thousand and thirteen are going to be two hundred twenty eight billion the last time we had an interest rate buildout low ronald reagan was the preside
economy that can create productive jobs that is dependent on the fed printing on borrowing on trade deficits but we can't do this forever and the longer we do it the bigger disaster when it ends but here assad of the last forty six forty six the last fifty years excuse me on our country has been in this kind of budget deficit and we haven't gotten caught in a death spiral so why now what is really getting at this problem. well not yet but it's the enormity of the problem it starts off as a...
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and democracy issues rule of law and deficits and democracy issues tell us more what's happening in jersey right now the legislators are looking to try to appeal to great britain because they feel there's been a breakdown in the rule of law and as you know if you're head span and you want to find a good tax shelter to keep your money in a bad legal system is not where you want to be keeping your money so the island is obviously very worried about its image getting here and so they're circling the wagons and doing their very safe. to banking laws but there's something else going on there too isn't there there's this story ripples into other areas just bank there's issues of crime on the islands bank that go beyond betting bank but include banking so you're going to be returning there after a period where you were not allowed to go now you're allowed to go back to jersey and you'll be following up on your investigative work and i just i just got off the phone this morning with a man who he with gags he actually he actually complained about having money stolen from him by people on the
and democracy issues rule of law and deficits and democracy issues tell us more what's happening in jersey right now the legislators are looking to try to appeal to great britain because they feel there's been a breakdown in the rule of law and as you know if you're head span and you want to find a good tax shelter to keep your money in a bad legal system is not where you want to be keeping your money so the island is obviously very worried about its image getting here and so they're circling...
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control of the side from body cuffed us were given a glimmer of hope as all the running it got the deficit to three one but on car completed the road laid on constantin my serious boring from the sport while mixing can only go from eighty five in stoppage to have. been sent in by the r t. and i we can have a look at the best of the rest from the past week from around the globe and the same bolts has been picking up yet more accolades to add to his ever growing trophy cabinets. the hollywood actor morgan freeman host of the ceremony in rio and bolt on his first lori's award in five years six time a live picture been couldn't attend the garner britain's top one champion at the london games jessica ennis was on hand to pick up her prize well the most decorated olympian ever michael phelps was handed of one of award his exceptional achievements in the swimming pool the american voters eighteen golds. on tuesday n.b.a. star dwight howard worked his magic with his new club the los angeles lakers becoming a all star welcome on how it's returned to face former team orlando the center top scoring w
control of the side from body cuffed us were given a glimmer of hope as all the running it got the deficit to three one but on car completed the road laid on constantin my serious boring from the sport while mixing can only go from eighty five in stoppage to have. been sent in by the r t. and i we can have a look at the best of the rest from the past week from around the globe and the same bolts has been picking up yet more accolades to add to his ever growing trophy cabinets. the hollywood...
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the deficit to three one but i'm cora completed the road lead on constantin my senior scoring from this board while maksim can only go from eighty five in stoppage to. constantine but the r.t. . and i we can have a look at the best of the rest from the past week from around the globe and the same bolds has been picking up yet more accolades to add to his ever growing trophy cabinets. on monday hollywood actor morgan freeman host of a ceremony in rio spring on bolt on his first loris award in five years six time and then pick champion couldn't attend the gala britain's heptathlon champion at the london games jessica ennis was on hand to pick up her prize while the most decorated olympian ever michael phelps was handed a one off award for his exceptional achievements in the swimming bowl the american voters eighteen golds. on choose the n.b.a. star dwight howard worked his magic with his new club the los angeles lakers becoming a hostile. well come on now it's returned to face former team orlando the center top scoring with a season high of thirty nine points sixteen rebounds and repeatin
the deficit to three one but i'm cora completed the road lead on constantin my senior scoring from this board while maksim can only go from eighty five in stoppage to. constantine but the r.t. . and i we can have a look at the best of the rest from the past week from around the globe and the same bolds has been picking up yet more accolades to add to his ever growing trophy cabinets. on monday hollywood actor morgan freeman host of a ceremony in rio spring on bolt on his first loris award in...
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ten point cushion midway through the opening quarter but the home side swiftly for the back up to the deficit to a single point and in the second game could build on their advantage heading into the main intermission with a comfortable forty nine thirty seven score in iraq to refuse to give up and almost managed to pull level but the home side woke up things to bad that a corporate defeat on guard came off the bench to sink a season high twenty three points to be named the most elegant play of the week for the first time to dad like many managers and you know i i have i made some shots and when are they good game and their fire you know i said the most important thing was that we want a game and now they've got two in foreign games left and we just try to win with two matches to go next week could prove crucial for the russian teams host a ten year old the champions real madrid in a clash to decide who wins. the group and home court advantage while he and q. are one of five teams battling it out for free tickets to the playoffs and take on spanish side the hollow barrage of home port constant
ten point cushion midway through the opening quarter but the home side swiftly for the back up to the deficit to a single point and in the second game could build on their advantage heading into the main intermission with a comfortable forty nine thirty seven score in iraq to refuse to give up and almost managed to pull level but the home side woke up things to bad that a corporate defeat on guard came off the bench to sink a season high twenty three points to be named the most elegant play of...
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will vote on the progressive caucus is back to work budget back to work budget eliminates the federal deficit in ten years and in the same amount of time creates a thirty one billion dollars surplus the budget creates seven million new jobs in one year eliminates corporate tax breaks for big oil and closes tax loopholes for transnational corporations and unlike paul ryan and the republicans austerity budget the back to work budget prevents cuts to social safety net programs like medicare medicaid and social security finally the budget invests extensively in our nation's infrastructure while promoting clean energy sources to back to work budget is the only budget being considered the truly gets to the roots of america's economic woes. and helps to strengthen the middle class making sure that the wealthy elite do their fair share to support our economy so let's get this budget passed call your member of congress and urge him or her to vote yes tomorrow on the congressional progressive caucus is back to work budget. so sometimes you know what you know and sometimes you know what you don't know a
will vote on the progressive caucus is back to work budget back to work budget eliminates the federal deficit in ten years and in the same amount of time creates a thirty one billion dollars surplus the budget creates seven million new jobs in one year eliminates corporate tax breaks for big oil and closes tax loopholes for transnational corporations and unlike paul ryan and the republicans austerity budget the back to work budget prevents cuts to social safety net programs like medicare...
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privatized your schools sell off your roads give us the money and the states that are chronically in deficit the states that are constantly taking via the federal government which would be taking the role of the of the european central bank in this case those states would would be you know increasingly impoverished mississippi west virginia alabama the red states basically would be increasingly impoverished in their people would be being squeezed harder and harder are the social welfare programs being cut more and more first of all this is kind of the setup for the question is that a reasonable starting point analogy. well partly i mean once again trust good old german engineering in the sense that they set this thing up a much more shrewdly going in so it's not a perfect analogy but you know there's some validity to it i think that what we don't have in this country is a system where the northern states for lauer bow or red blue states can actually call in there or chits against the southern. a lot of that is down in terms of you know federal tax dollars. they're getting an extra return a l
privatized your schools sell off your roads give us the money and the states that are chronically in deficit the states that are constantly taking via the federal government which would be taking the role of the of the european central bank in this case those states would would be you know increasingly impoverished mississippi west virginia alabama the red states basically would be increasingly impoverished in their people would be being squeezed harder and harder are the social welfare...
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park olympic atom of death and trade deficit holes in china sixteen thousand infected rotting pig carcasses find out what else has mysteriously been fished out of chinese waters. also online the u.k. prime minister david cameron announcing a massive crackdown on immigration is britain's economy continues to falter this and more are. the i.d.f. is cracking down on inappropriate behavior from its troops israeli soldiers online dance videos and controversial content of quickly gone viral there's fears the videos may be undermining the government's attempts to use social media as a p.r. tool artie's policy or investigates offensive and damaging fun a picture of an israeli soldier with mud on his face titled a bomb a stone posted on facebook by none other than the head of the i.d.f. social media unit should have done the minish just as the government uses social media for explaining full complaining for propaganda spinning it also has to do with private soldiers using new media every soldier is a broadcast station. it looks innocent enough but this will go two weeks in a military prison. after p
park olympic atom of death and trade deficit holes in china sixteen thousand infected rotting pig carcasses find out what else has mysteriously been fished out of chinese waters. also online the u.k. prime minister david cameron announcing a massive crackdown on immigration is britain's economy continues to falter this and more are. the i.d.f. is cracking down on inappropriate behavior from its troops israeli soldiers online dance videos and controversial content of quickly gone viral there's...
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more problems than it is over in we think in cyprus the the there is a huge thoughtfully that is the deficit in the european union in detroit which is much greater than any physical barrier to the public to build a new country in the european so. i mean let's bring us out of the whole grassroots issue here because many people many people now face losing up to a fifth of their life savings how are the banks planning to restore their customers trust after something that some have called the biggest brout of theft in broad daylight. ok this is this is unprecedented cyprus lost twenty five percent of its g.d.p. almost two years ago when the it was the here a couple of the greek dead and there has been no compensation for that these ideas being discussed are implemented there will be another here over the cyprus g.d.p. which will be around forty percent it would be impossible i think to get out of such a mess most likely you know i find it very difficult for these to be viable even the various agreement even even the parliament. i find it extremely difficult for these to be viable. in the next fe
more problems than it is over in we think in cyprus the the there is a huge thoughtfully that is the deficit in the european union in detroit which is much greater than any physical barrier to the public to build a new country in the european so. i mean let's bring us out of the whole grassroots issue here because many people many people now face losing up to a fifth of their life savings how are the banks planning to restore their customers trust after something that some have called the...
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room to move and spread out and because the hens are so close together they're forced to urine and deficit of one another in fact in some cases cancer hens are kept in cages above large manure pits and the cages are stacked so high that actually coming from birds and higher cages often falls on those below who then read it for chickens in the second and third layer down the chicken poop from above has some attritional value because chickens don't have one hundred percent efficient digestive systems something that some chicken factory farms know and use to save money why feed the chicken food after all when it's cheaper to have it eat the poop of the chicken above it the important thing to realize is that these realities about this these are not widely abnormal practices when it comes to factory farming in the united states whether we're talking about chickens or cows or pigs like the rest of corporate america big agriculture is primary concern is that everything else comes second including treating raised animals with any sense of respect or dignity and it's because of these injustices tha
room to move and spread out and because the hens are so close together they're forced to urine and deficit of one another in fact in some cases cancer hens are kept in cages above large manure pits and the cages are stacked so high that actually coming from birds and higher cages often falls on those below who then read it for chickens in the second and third layer down the chicken poop from above has some attritional value because chickens don't have one hundred percent efficient digestive...
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european for perhaps a generation i mean since the beginning the project we've always been a democratic deficit it's been there since the glorious ever closer union days. there's no evidence to suggest that that's not the case right now. thanks so much for coming in thank you. well it's a ten minutes past the hour moscow time thanks for joining us here on the program and the mystery behind the death of boris verizon clear out within hours this following an autopsy the body of the self. kremlin opponent was found in his bath tub at the weekend now they have been suggestions to form a billionaire took his own life but police say that he left no suicide note behind have also ruled out any third party involvement. made an immense fortune back in the ninety's it's widely believed he took advantage of the chaos gripping post soviet russia coupled with cozy relations with president yeltsin's inner circle it's like you're later moved to london to escape multiple charges of financial crime dr mcdowell an independent expert on russia. never believed that he would lose his grip on power. i don't think tha
european for perhaps a generation i mean since the beginning the project we've always been a democratic deficit it's been there since the glorious ever closer union days. there's no evidence to suggest that that's not the case right now. thanks so much for coming in thank you. well it's a ten minutes past the hour moscow time thanks for joining us here on the program and the mystery behind the death of boris verizon clear out within hours this following an autopsy the body of the self. kremlin...
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hundred times more than the bush administration predicted if you're looking for an answer to our current deficit problems this is it but statistics only tell part of the story the war ruined america's credibility and inflamed extremists throughout the islamic world and for many the mainstream media has never been able to reclaim its reputation as the guardians of truth and knowledge on empire but like the us can survive a failure like the invasion of iraq lick our wounds and salt and live to fight another foolish war iraqi society has never really recovered and probably won't for generations just today insurgent attacks killed fifty. or more people in baghdad and other major cities families have been displaced friends have been murdered in communities obliterated a once proud country is fractured and impoverished the sort of indignities are never forgotten ten years on can anyone really say it was worth it despite the obvious human tragedy the main instigators of the conflict george book bush dick cheney donald rumsfeld held remain unpunished and under how can we. ever expect to learn from the b
hundred times more than the bush administration predicted if you're looking for an answer to our current deficit problems this is it but statistics only tell part of the story the war ruined america's credibility and inflamed extremists throughout the islamic world and for many the mainstream media has never been able to reclaim its reputation as the guardians of truth and knowledge on empire but like the us can survive a failure like the invasion of iraq lick our wounds and salt and live to...
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percent so if this growth doesn't materialize george osborne is going to be in deep deep trouble and the deficit is going to be very dangerous levels of course he's got a problem britain overwhelmingly relies on corporations especially the banks for revenues go to look after the money. well of course that's part of britain's problem so two of the most productive states is the bringing in huge amounts of money the banks and also north sea oil are experienced in the medium term decline so this means in a shortfall in revenues and very little growth and it's not clear that you say this is going to replace those and they're often being kept down by a lot of new regulations so for example in the energy sector a rising energy prices rising transport prices rising water crisis these are all the case in growth of course even the cleverest chancellor really stretch a bit of string so far not willing for a country bogged down by debt is that really a realistic alternative to austerity do you think you know really and of course if the government spent more i mean there's a lot of evidence that more governm
percent so if this growth doesn't materialize george osborne is going to be in deep deep trouble and the deficit is going to be very dangerous levels of course he's got a problem britain overwhelmingly relies on corporations especially the banks for revenues go to look after the money. well of course that's part of britain's problem so two of the most productive states is the bringing in huge amounts of money the banks and also north sea oil are experienced in the medium term decline so this...